Galapagos discontinues partnered RA programme
Mechelen – Belgian Galapagos NV has terminated a Phase 2 study for
GLP0259 in rheumatoid arthritis after an interim analysis showed the drug was not efficient. The failure affects Galapagos’ research agreement with Janssen Pharmaceutica for arthritis, under which the J&J subsidiary has the option to exclusively license four small molecules from in RA from Galapagos for 60 million euros each, upon delivery of Phase IIa results and further potential EUR776 million in case of market launch. Onno van de Stolpe, CEO of Galapagos said: "Galapagos remains on-track to deliver the remainder of its operational objectives in 2011 as well as meet full year financial guidance of at least EUR150 million in revenues, profitability and positive cash flow in 2011."